Novel latex or emulsion compositions containing internally plasticizing and crosslinkable monomers derived from traditional semi-drying or non-drying oils are disclosed and claimed. The monomers are ethylenically unsaturated derivatives of long-chain olefinic compounds. Preferred embodiments include latex formed from acrylate or methacrylate esters of fatty alcohols. A process for the synthesis of the latex composition is also disclosed, which involves (a) polymerization of the ethylenically unsaturated derivatives of a long-chain olefinic compound in an aqueous phase with at least one other copolymerizable monomer; and (b) blending of so formed polymer with at least one drier and a surfactant to form the novel latex or emulsion compositions. These compositions form films at low minimum film forming temperatures (MFT) ranging from -5 to 10.degree. C. and cure to above ambient glass transition (T.sub.g) polymers without the use of traditional organic cosolvents which contribute to environmental pollution via volatile organic compounds (VOCs) emissions. These compositions are therefore useful in waterborne coatings, contact and pressure sensitive adhesives, and inks.